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India Stack: Fintech's Global Blueprint
10 Feb
Summary
- India Stack serves as a global model for digital financial inclusion.
- Nearly 100 countries study and replicate India's digital public infrastructure.
- India is 'overweight' in Accion's global fintech investment portfolio.
India's digital public infrastructure, encompassing Aadhaar, UPI, and e-KYC, has become a transformative global model for financial inclusion. Accion, a prominent nonprofit investor in fintech for underserved populations, notes that approximately 100 countries are actively studying and seeking to replicate India's digital public infrastructure. This has led Accion to consider India 'overweight' in its global investment portfolio, signaling significant opportunities and a strategic focus on the country's fintech advancements.
Innovations pioneered in India are now being exported to Africa, Latin America, and other regions. Accion's President, Michael Schlein, emphasized that while India's digital financial inclusion achievements are extraordinary, replicating them in developing countries presents challenges due to varying institutional capacities. Reaching the next billion financially excluded individuals, who are often rural, agricultural, women, or micro-entrepreneurs, requires tailored approaches and learning from India's experience in building an inclusive financial system.
